SoylentNews is people
SoylentNews
Bp Says We'Ve Already Reached Peak Oil:
BP is saying the quiet part loud: In the 2020 Energy Outlook report the energy giant published this week, it said that the world may have reached peak oil.
The covid-19 pandemic has done a serious number on the oil industry, with demand falling to historic lows amid lockdowns and prices falling into negative territory. In a report on Tuesday, the International Energy Agency warned that for the oil industry, the "path ahead is treacherous," reducing its forecast for global oil demand in 2020 by 200,000 barrels per day. And on Monday, OPEC lowered its predictions of demand in 2020 by 400,000 barrels per day.
In BP's new report, analysts said the market may never recover from this damage. The authors lay out three possible scenarios for the world's energy usage between now and 2050, which illustrate a rapid, moderate, and slow transition to renewables. The first two scenarios show demand for oil steeply falling over the next three decades. But even under the firm's most "optimistic" scenario for Big Oil where climate action doesn't accelerate, oil demand will plateau at 2019 levels before declining in 2035.
This is a vastly different picture from the one the firm sketched in its last outlook report just one year ago, which predicted oil consumption would continue to grow over the next decade, peaking sometime in the 2030s.
(Score: 0, Touché) by Anonymous Coward on Tuesday September 22 2020, @11:28AM (2 children)
A shitty cuntry you must be living in.
(Score: 0) by Anonymous Coward on Tuesday September 22 2020, @04:57PM (1 child)
Oh it's a total shit cunty, you better betcha. It's such of a shit cuntry that 53% of white women fucked the rest of us over and voted abortion and LGBT rights away. Frikkin white women are traitorous bitches!... 53% of them anyway but that's all it took to flush our rights down the toilet!
Disclaimer: the soap box is under active assault, the ballot box is actively being dismantled sorting machine by sorting machine, the jury box is still out of order (if a doctor is charged for providing an abortion, will we nullify?!), so finally the ammo box looms.... Fight and you may die. Run and you’ll live. At least a while. And dying in your beds, many years from now, would you be willing to trade all the days, from this day to that, for one chance, just one chance, to come back here and tell the Nationalsozialistische Rethuglicanpartei and their Democrat patsies that they may take our lives, but they’ll never take our right to bodily autonomy?
(Score: 0) by Anonymous Coward on Wednesday September 23 2020, @05:52AM
Go paint yerself Blue with the Woad, you unreconstructed Pict! We Gaels an Scots will overrule you, and split from the Brexiteers. Nigel Farage is a French spy!